A new study conducted by financial services company Bankrate Inc said that the worst city in the US to retire is New York.

Bankrate’s first-ever analysis on the topic ranked 172 metro areas across the country on a number of factors, which include cost of living, high taxes and weather, health-care costs.

New York City finished last out of 172 cities followed by Little Rock, Arkansas and New Haven, Connecticut. According to Bankrate, Buffalo was the fourth worst metro to retire and Newark, New Jersey, was the fifth-worst.

Albany became the sixth-worst metro to retire because of high cost of living, high crime, below average weather and very high taxes.

Bankrate also looked at a specialized wellness score for seniors from the Gallup-Healthways Well-Being Index. A senior well-being score of the cities was derived from a list of survey questions asked to people aged ages 65 and older. They were asked how much they like their community.

Chris Kahn, a research and statistics analyst at Bankrate said, "Deciding where to retire is a very personal choice. We ranked the cities on factors that matter most to seniors, but recognize that every city has its pros and cons that will be shaped by each individual’s personal experiences”.

The best places to retire deemed by the financial publishing team were Phoenix metro area (Mesa, Scottsdale), Arlington/Alexandria, VA, Prescott, AZ, Tucson, AZ and Des Moines, IA.

Bankrate was particularly enthused about Arlington, a D.C. suburb in Northern Virginia. Bankrate wrote that Arlington has a low crime rate, and locals can get by without a car and much of the city is walker-friendly.